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BFCSA: Banksters destroying evidence; Corrupt Regulators assisting the Perpetrators of White Collar Crime at the TOP LEVEL of Australian Banking

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There are some readers who can put into words better than I can, what is really going on here.  You see readers, I am not a victim.  I am just a lowly citizen who suddenly woke up to see a crime being committed on innocent people and said "what is going here with Australian Bankers?"

Roy W capably articulates the grass roots watching of lives being destroyed because of greed. 

Torch the getaway car, throw the gun in the river, shoot the witnesses, burn the house down, all these classic cases of destroying evidence have made for two hours of great viewing at the cinema. Then there is the real life situation of shred the Loan Application Form, burn the service calculator and flush the Original Customer Contract, this has made for a lifetime of fun for Bank CEO's super driven by GREED.

The only ones not enjoying this ride are the customers affected for a life long sentence of poverty all because our entire banking system is a failure.  

Unlike the movies where the hero always gets his man or your weekly crime drama where the crooks get caught in the hour long episode, this is taking a life time for real victims of Bank Fraud even with a mountain of evidence to thoroughly back the claims to even get a reasonable hearing.

I am left bewildered as to when crime is crime, why do we not have the full extent of the law at our disposal if a white collar criminal steals our money eg Bank by devious means lends money based on information not given by the recipient of the loan but then borrower made to repay the loan which was never affordable....and against the Bankers Code of Conduct s25.1.

The Bank continues to take the borrowers hard earned until the unaffordable loan commitments can no longer be met. The Bank then begins making demands for payment of outstanding loan and begins pressuring the borrower with threats of taking possession of the property mortgaged. Finally the family home is taken by the Bank as the equity is drained away.

A century ago we had Horse Thieves, Cattle Rustlers and Stage Coach Robbers...................and the noose.

Now home repossession might seem like the normal course of action if someone is financially over committed of their own accord.   What is wrong here is that Banks trained Business Development Managers who then trained and sent out Brokers to find customers with training specifically designed to target people with limited incomes (Asset Rich and Income Poor families) but who had worked hard over many years to attain an asset portfolio just built from their own thriftiness. Many of these people were self employed, pensioners, or folk that had received disability payouts for lifelong illness or injuries and no longer had mean for an income.  Yet during their lives they were the honest backbone of this country.

Brokers peddled the Bankmens' dishonest product of Sub Prime Mortgages to the unsuspecting plebeians, with a razor sharp spiel and the Banksters rubbed their hands together with glee as they knew the authorities would never suspect the Bankman it was always going to be the Broker that would be the fall guy.

But as the truth of the plot so cleverly engineered in Bankster back rooms started to waiver and, cracks appeared in their cunning plan, the weapon that had been so cleverly hidden from view; the LAF and the Service Calculator; became their own ticking time bomb.  Denise Brailey disclosed this paperwork to the world of victims and presented it to many people of power as the Banksters weapon of choice, but all the brains trust could not grasp her message. The plain and simple of all of this fiasco is that Banks took whatever figure of income the client was required to earn to make a loan happen and disregarded any information given to them (the legitimate information supplied by the customer) and simply replaced it with the figures they needed their system to produce to make the loan work.

Now where they went totally wrong was trying to blame the Brokers and the customers as there is a process  for checking that information is true and correct and our Banksters in their haste to get their hands on your asset forgot that the only people that can approve the loan is the Bank themselves.

So blaming the Broker for fudging figures or blaming the customer for lying about their income or their ability to repay the loan is a last ditch grasp at an excuse for not following the rules. And, lets face fact here, the Banks made their own set of rules when they wanted self regulation, maybe they will want to set their own jail sentences when it all comes spewing out.

I doubt the regulators will be able to contain the Bankster secret for much longer.  They have played dumb for long enough and their long list of excuses have just about run their course. Not long to wait now for the Senate Inquiry into ASIC Non Performance and that I believe will filter onto a Royal Commission because there are a lot of Bank CEO's and Politicians that have some very serious questions to answer.

The Joe Hockey thing will turn into a Treasury circus and will turn up nothing as it will be run by Bankers for Banksters just a whole lot of back slapping and high fiving at that one. One thing is for certain the visitor dress standards will be right up at the penitentiary over the next couple of years you might even have to buy tickets to get in there will be so many famous faces.  Thanks Roy W

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  • doyla66
    doyla66 Friday, 17 January 2014

    Brilliant - bravo Roy :) and thankyou.

  • doyla66
    doyla66 Saturday, 18 January 2014


    Well written Roy, I do believe blind Freddie can see what system the evil bankster world has made up to pillage the trusting borrower, so it should be very clear for the Senators what measures have to be taken to correct this fraud and bankster greed. If they choose to do nothing would mean corruption has made it's way to the top level of government and Tony Abbott had then better watch out. If this greed is corrected by the Senators then i'm sure the government would be in a very popular position for a long time especially when the previous government couldn't, wouldn't or didn't have the guts to fix. Fraud is rampant in the Banking and lending industry.

  • Denise
    Denise Saturday, 18 January 2014

    Is there any decent banking and finance product that Bankers have not bastardised? I would be fascinated to see one. [email protected]

  • doyla66
    doyla66 Saturday, 18 January 2014

    Thankyou Roy, well said and good to hear your constructive thoughts and getting to the real truth. This would make an exellent submission. I hope you will give it a thought if you haven't already.
    It is very much appreciated to hear from a person who is not affected....keep up the good work.
    Would love to hear from more people like you :)

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